Haha i feel the same way. Im more or less even now after the drop. I guess ill keep my bag, untill the price goes up
I was reading up about another coin SWFT, supposedly the Chinese Ripple. Has anyone heard anything good about it?
I haven’t sold anything.
Me neither I bought more @ 250 sats
The remembrance of projects like Verge, Tron, heck even absolute garbage like Reddcoin burned into my brain. I know that once the market truly heats up, once Bitcoin goes on a run, projects like Odyssey, for better or for worse, just or unjustly, will become extremely overvalued. This is the only project I hold that is like this. The more publicity it gets, negative or positive, ends up benefiting these platforms. It is my hedge.
If you can parallelize the cryptocurrency market cap (putting your individual partisan politics aside), this is how someone like Donald Trump wins an election. Like him or hate him, he is attuned to twitter, causes quite a stir on numerous occasions, is a polarizing figure, and many counted him out of the election - yet here he is, in the oval office, as the president…still on twitter.
I see this comparison not to dissimilar to a platform such as OCN.
Take it for what you will
That’s a very interesting perspective. In a nutshell you’re giving props to Yi, for his marketing skills rather then the project. Investing on the hype? I get it. I’m doing the same lol I will sell at 600 sats, that’s my goal.
I’m not necessarily giving props to Yi - just saying that this project, and the “mold” of it if you will (low sat value, low fiat value, leader associated with Tron, largely vaporware), has a tendency to “pump” when there is bullish sentiment in the market.
It is a hype play.
I agree OCN will be a money maker at least one more time. But I’m hesitant to pick up more OCN until it hits 1 cent. Currently, QLC has the same market cap but with a working product and a lot less supply. No hypeman though.
Check this out: https://www.youtube.com/watch?v=6apGabxX7Ow
I guess this is the point I am trying to convey.
With this platform, having a working product is actually a detriment to its “success” (in terms of price appreciation) in the market. If you ever want a good read on the subject, “Zero to One” by Peter Theil also somewhat touches on it in the beginning part of that book. Basically in the late 90’s, products that had a domain name and an idea, but nothing of substance in which to judge its true valuation (minimum viable product or market comparables) were able to really outperform. This was because you could say “Yes but this has never been done before!” or “Can you really value this online pet store? This could be worth 100x traditional pet stores!”. You can already begin to see this phenomena occuring in blockchain: “Yes but can you really value a sharing economy?” ala OCN? Has there ever been a successful one in the past? And if not, then there is less resistance of future growth (higher ceiling).
This will also more than likely be the bane of the early crypto market when things truly get out of hand with valuations, and then the eventual collapse back to a more true value, we are very far off from this though IMO.
That’s an interesting point. Because of no working product and even no binance listing yet, there’s plenty of gains to be made. Once the product comes out, people will get bored and move on.
It’s a very counter-intuitive mindset in which to invest with, its also highly risky. You are essentially investing purely in an idea and on hype. If you are able to be okay with that, it is essentially gambling. I almost see OCN as like an opportunity cost limiter on my portfolio. If all of my projects do well, and OCN goes to zero, I am okay with that.
If all of my projects do well and OCN is TRON reincarnate during the next bull-run, even better.
If, however, I decided not to put a small portion of my portfolio in OCN, doing my due dilligence, and the experience I have with seeing how the crypto market sentiment behaves - I would not be okay seeing my portfolio projects do well, while OCN outpaces them. That is a huge opportunity cost for me.
Here is an interesting case study:
Prior to TRON going bananas in the last bull-run, it essentially hit an interim peak of .07, then tanked to .03.
It then went on to have a monster run, on complete vapor ware and clever marketing, no less.
This is OCN today. It peaked around .04, and if it has the same price action, it might get to .016. .04 to .016 is unacceptable, and any investor would be considered sane to drop it.
Time will tell, We will see where it ultimately ends up in the next bull-cycle.